Sriganeshh said....
anuj
just thinking..u created so many excel programs.
what's ur view on elder's trading system..is it not good?
like to know ur views
best
sri
*****************************
My notes:
Dr. Alexander Elder trading system - http://www.elder.com/
Do you mean the triple screen trading system?
I think it is one of the best and logical way to trade.I feel it is similar to other systems or setups.like multiple time frames theory and what Ilango mentioned today in this blog 5th of 5th in Elliott wave...
What is 5th of 5th in Elliott wave? If you take a closer look you will see that, there is a 5th wave in progress and there are a smaller degree of a waves within that fith wave ,which is making 12345 wave pattern.
So the best place is to sell or buy is when markets are overbought or oversold in two time frames.I do this quite often.I check 15 min time frame and establish a bias (markets call table)and use Intraday (5 or 1 mins chart) to enter in direction of trend.
How do I do that?
Information that I have before the market opens (I know the direction of trend and I also know when it changes(SAR - Stop And Reverse )
Assuming we are in down trend(opposite in case of up trend).I try to establish a point where market will be overbought in 15 mins chart.Then I move to 5 minutes or 1 minutes to find overbought levels in that time frame.
This point is the place which gives me best risk to reward in terms of 15 minutes chart and my SAR (Stop And Reverse).So I enter shorts at that point
In simple words, look for a pullback (against the trend movement) in your trading time frame to get a good entry (better risk to reward ratio)
I hope it gives some new insights,for more read Dr Elder's book,Come into my trading room.I will discuss this in details with chart some other time
Good luck
Cheers
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Free Gold And Crude Oil Futures Tend Update
How do I calculate SAR
anuj
just thinking..u created so many excel programs.
what's ur view on elder's trading system..is it not good?
like to know ur views
best
sri
*****************************
My notes:
Dr. Alexander Elder trading system - http://www.elder.com/
Do you mean the triple screen trading system?
I think it is one of the best and logical way to trade.I feel it is similar to other systems or setups.like multiple time frames theory and what Ilango mentioned today in this blog 5th of 5th in Elliott wave...
What is 5th of 5th in Elliott wave? If you take a closer look you will see that, there is a 5th wave in progress and there are a smaller degree of a waves within that fith wave ,which is making 12345 wave pattern.
So the best place is to sell or buy is when markets are overbought or oversold in two time frames.I do this quite often.I check 15 min time frame and establish a bias (markets call table)and use Intraday (5 or 1 mins chart) to enter in direction of trend.
How do I do that?
Information that I have before the market opens (I know the direction of trend and I also know when it changes(SAR - Stop And Reverse )
Assuming we are in down trend(opposite in case of up trend).I try to establish a point where market will be overbought in 15 mins chart.Then I move to 5 minutes or 1 minutes to find overbought levels in that time frame.
This point is the place which gives me best risk to reward in terms of 15 minutes chart and my SAR (Stop And Reverse).So I enter shorts at that point
In simple words, look for a pullback (against the trend movement) in your trading time frame to get a good entry (better risk to reward ratio)
I hope it gives some new insights,for more read Dr Elder's book,Come into my trading room.I will discuss this in details with chart some other time
Good luck
Cheers
Related Post
Free Online Forex Futures Trading Strategy
Free Gold And Crude Oil Futures Tend Update
How do I calculate SAR
"... You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody ..."
ReplyDelete[Trading for a Living]
- Dr. Alexander Elder
anuj,
ReplyDeletethanks for considering my views unlike few in the blogosphere who thinks they know all...
sri
Anuj Sir,
ReplyDeleteI went through your blog and request your help. Please guide me and clarify, how I can get the intraday chart. I mean the - 15 min time frame and establish a bias (markets call table)and use Intraday (5 or 1 mins chart) to enter in direction of trend.
2. I try to establish a point where market will be overbought in 15 mins chart...then I move to 5 minutes or 1 minutes to find overbought levels in that time frame...Can you please elucidate and provide more views on this ? Thanks..
@ S Sir,
ReplyDeleteHi
For intraday charts you can use yahoo charts,quote.com or trading software
I will explain the tipple trading system in detail with charts ...some time in future
Read Dr Alexander book...Come into my trading room...he is the best person to tell you about his system
check this link to know how i calculate SAR and thus establishing my bias
http://financeandtradingmadeeasy.blogspot.com/2010/01/how-do-i-calculate-sar.html
Good luck